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2021 Nevada Health Insurance
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Most people are stressed out, busy, and constantly wondering if that strange pain they feel or those odd symptoms are going to disappear so they don’t have to worry about something else. Instead of choosing between work and seeing a doctor, or even the cost of healthcare, you should consider enrolling in a health insurance plan today. Healthcare is essential, but many Nevadans continue to live uninsured.
This puts you in danger of receiving no care or having to pay a massive bill out of pocket. Life can be unpredictable, but if you can lessen the burden with a major medical plan, then you should.
Before you start comparing Nevada health insurance plans, you need to know a little more about the policies available. Let’s get started.
Types of Health Plans
Insurance enrollees in Nevada have access to bronze, expanded bronze, silver, and gold insurance policies. Bronze plans pay around 60 percent of your medical costs (after deductibles). Expanded bronze has the same benefits but covers more medical care upon reaching the deductible. You can also purchase catastrophic plans. Although catastrophic health insurance is typically for individuals under 30 with few medical needs, you can also enroll if you qualify through financial hardship.
Aside from the metal tiers, there are also networks that you may be able to choose, depending on which type of medical coverage you are shopping for. Here is a summary of the four most popular types of health plans:
With an HMO, you get access to a network of doctors, medical facilities, and specialists who work together to decrease the cost of medical care. You need to select a primary care physician (PCP) who will give you referrals for specialists when needed. The cost of HMOs is generally lower than any other health plan, making this a popular form of insurance to purchase.
For a slightly higher premium, you get far more flexibility with choosing who and where you get your medical care. With PPOs, you never need a PCP or a referral. You can visit in and out of network healthcare providers, but you do have to pay more to go out of network.
If you don’t mind sticking to a smaller network, you can get an EPO. However, you are free to visit any doctor or facility you want within the network. If you go out of network, you won’t be covered, unless it is an emergency.
There are other kinds of plans available that are tied to savings accounts, often called Health Savings Accounts (HSAs). If you are interested in that, contact an insurance carrier representative to learn more.
Compare New Mexico health plans to see which network is perfect for you.
Why You Should Have Nevada Medical Insurance
If you ever wondered why health insurance is a worthwhile investment, then you should consider the cost of healthcare when you are not insured. A single broken bone can cost you tens of thousands of dollars to repair. A single day in the hospital is well over a thousand dollars alone. Now, compare that to the amount of money you have saved up for emergencies.
You soon realize how impossible it is to pay for medical care out of pocket. With a health insurance policy, you can mitigate the costs, thereby making payments more affordable.
Also, with the enactment of the Affordable Care Act, all compliant insurance plans must include essential health benefits. These benefits are considered the core of healthcare and cannot be denied as long as you are covered by insurance.
The essential health benefits are:
The only things that will not be covered are vision and dental, as well as cosmetic surgery. Some insurance providers offer additional benefits. Compare Nevada health plans to see which plans are best for you.
Short Term Health Insurance
Although changes to federal rules have increased the terms for short term plans in 2018, Nevada continues to have stricter regulations. Purchasing short term health insurance in Nevada gives you a maximum of 185 days. You cannot renew the insurance.
The best times to get short term health insurance are:
- When you’re between jobs
- When you are waiting for your new coverage to begin
- When you aged off your parents’ policy at 26 years old
- When you missed the last open enrollment period
What You Need To Know About Nevada Health Insurance
In 2013, when the Affordable Care Act was first enacted, Nevada had the second highest amount of uninsured residents in the entire nation. Nearly 2.8 million were without insurance in the state. However, by 2014, the uninsured percentage dropped to 14 percent. As of 2018, 11 percent of the population (around 339,000 people) were uninsured, but it is considered a great improvement to where the numbers were several years ago.
Recently, Nevada transitioned away from the federal exchange (HealthCare.gov) and returned to its state-run exchange, Nevada Health Link. Nevadans were able to use HealthCare.gov for individual health insurance up to 2019, but the cost of running both a federal and state exchange was too high. The state decided to trim costs by cutting HealthCare.gov, since it had a history of low enrollment.
There are presently five insurers on the exchange:
- Health Plan of Nevada
- HMO Nevada (HMO Colorado/Anthem)
- Friday Health Plan
- SelectHealth (available for only Nye and Clark counties)
Outside of the exchange, you can also find plans available from Hometown Health Plan, Sierra Health & Life, and Hometown Health Providers.
All insurance policies use two main factors for determining the cost of your Nevada medical insurance: your age and your location. Most insurers also consider your lifestyle habits, such as whether you smoke tobacco. Presently, bronze plans are the most affordable per month, though they do have higher deductibles. A 21 year old pays $364 a month for bronze, $474 a month for silver, and $552 a month for gold coverage. A 40 year old pays around $455/month for bronze, $593 for silver, and $691 for gold. A 60 year old pays much more—nearly double what a 40 year old pays. For example, for silver coverage, a senior citizen pays $1,259 per month and $1,467 for gold.
Family plans are based on the number of parents and children. A single parent, for instance, will pay the standard rate for an individual and then another $250-270 for a child under 15. Once the child is older than 15, the rate will increase annually. Two parents spend twice the amount of a single parent, though the same rules apply per child.
Start searching for competitively priced coverage today. AffordableHealthPlansUSA.com has a number of Nevada individual health plans for you to compare.
Unemployed, Part-Time, and Self-Employed
These times are full of uncertainty and some of the highest rates of unemployment ever recorded in the United States. One thing you do not want to worry about while looking for a new job or waiting for your old job to reopen is whether your health is covered. There are few options for health insurance for unemployed Nevadans, including COBRA. That said, COBRA is expensive, making it a less than satisfying route for struggling families.
If you recently lost your job, you may be eligible for a special enrollment period. You may even be able to enroll in short term health insurance or seek coverage through a carrier that doesn’t operate on the exchange.
Health insurance for self employed Nevadans is the same as individual health plans and family health insurance. You must have no employees other than yourself to gain access to these plans. Part-time employees that cannot get coverage through their employer can also enjoy the benefits of an individual health plan. Catastrophic plans may be available for unemployed, self employed, and part-time workers if you meet the criteria.
Differences Between 2020 Open Enrollment and 2021
One major difference for 2021 Nevada open enrollment is that residents are getting an extra 30 days to sign up for an ACA-compliant policy. The announcement happened in July and stated that the enrollment period would start on November 1, 2020 and remain open until January 15, 2021, giving Nevada residents a total of 75 days to get health insurance.
If you missed the 2020 open enrollment, you could still be eligible for a special enrollment period (SEP). Certain qualifying events, like losing your employer-based health insurance because of layoffs, or having a child, entitle you to an SEP. Just make sure you make the 60 day window.
Because of the aforementioned 7.5 percent rate increase, you can anticipate major medical plans to be more expensive than previous years. Health Plan of Nevada proposed a 7.2 percent increase; SilverSummit has a 10.3 percent increase; and HMO Nevada (Anthem) has a 4.3 percent increase. SelectHealth and Friday Health Plan are both new to the exchange and thus have no rate hikes.
Any off-exchange plans will no longer be available throughout the year. Now, there is a limited enrollment window. Fortunately, that enrollment period is the same as the ACA open enrollment period, so you should be able to compare Nevada health plans from on and off the exchange without an issue.
Keep Yourself and Your Family Protected
Your health is not something worth risking. In times like these, you need to know that you and your family are going to receive the care they deserve. The best way to make that certain is to have medical insurance. Nevada’s rates may be increasing, but you may be eligible for subsidies that make major medical plans offered through the state-run exchange more affordable.
The time to shop for 2021 health insurance quotes is now! Don’t wait until open enrollment begins to seize the best deals. AffordableHealthPlansUSA.com has everything you need to find comprehensive coverage that protects you and your family.